Volkswagen invests €2bn in Wolfsburg EV production site

Volkswagen has given the go-ahead to a new €2bn (£1.65bn) factory in Wolfsburg where it will build its Trinity flagship EV.

Given the green light by Volkswagen Group’s board of management, the new factory will be located close to the firm’s existing factory in the Warmenau district, with construction set to commence in spring 2023.

Ralf Brandstätter, Volkswagen CEO, said: “The decision by the Supervisory Board is an important milestone for the transformation of our brand and the future of the Wolfsburg production facility. We are thus strengthening and sustaining the competitiveness of the main plant and giving the workforce a robust long-term perspective.

“We are setting benchmarks in the automotive industry with Trinity and the new factory and turning Wolfsburg into the global lighthouse for cutting-edge and efficient vehicle production. This reaffirms that the economic transformation of Germany as a center of industry can be achieved.”

Volkswagen intends to begin production of the Trinity in 2026 and is aiming for a production time of ‘10 hours per vehicle’. In order to achieve this goal, the manufacturer has said that the Trinity will use fewer components and incorporate fewer variants as a way of creating ‘leaner production lines’.

Volkswagen also says that the Trinity will have a much shorter charging time than its current cars and will be able to deliver a range of over 700 kilometres – or 434.9 miles. It’ll also be ‘technically ready’ for autonomous driving with Level 4 installed.